Sign In
Free Newsletter
U.S. import prices rise solidly in June
Source: Reuters
WASHINGTON, July 15 (Reuters) – U.S. import prices increased solidly in June as bottlenecks in the global supply chain persisted, the latest indication that inflation could remain elevated for a while amid strong domestic demand fueled by the economy’s reopening and fiscal stimulus.
Still, prices appeared to have peaked. Import prices rose 1.0% last month after surging a 1.4% in May, the Labor Department said on Thursday. The eighth straight monthly gain left the year-on-year increase at 11.2% compared with 11.6% in May. Economists polled by Reuters had forecast import prices, which exclude tariffs, increasing 1.2%.
